Business

IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

Business IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)

IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

Central bankers around the world would need to consider any slowdown in AI-driven growth as they assess steps in their fight against inflation, International…

Asharq Al Awsat
Business A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)

World Food Prices Dip in October, but Remain Higher Than a Year Ago

World food prices edged lower in October as weaker import demand contributed to monthly declines in cereal, dairy and meat prices, but were still nearly 6%…

Business Copper at the Aurubis copper smelting and refining plant in Hamburg, Germany. (Reuters)

Copper Falls, Set for Worst Week Since March on AI Rout

Copper dropped on Friday and was set for its biggest weekly drop in London since March, as a rout in technology stocks battered markets. Benchmark three…

Asharq Al Awsat
Business Workers walk at Kalyon Karapinar solar power plant in Karapinar, Konya province, Türkiye, Oct. 14, 2026. (AP)

Emerging Economies Set to Match Advanced Nations’ Renewable Capacity Additions, IEA Says

Emerging ‌and developing economies outside China are expected to add as much new renewable energy capacity as advanced economies for the first time over…

Business Gold bracelets displayed in a shop window on Green Street, east London, UK, April 30, 2024. (AFP)

Gold Drops Over 1% on Higher Oil Prices; US Payrolls Data in Focus

Gold prices slipped on Friday as oil prices rebounded, fanning inflation worries and higher-for-longer interest rate expectations, while investors awaited key…


Business Mawani and Saudi Global Ports (SGP) ink a deal to build a fully integrated logistics park spanning over 1 million square meters at King Abdulaziz Port in Dammam.

Saudi Mawani, SGP Sign Contract Agreement to Establish Fully Integrated Logistics Park

The Saudi Ports Authority (Mawani) and Saudi Global Ports (SGP) have inked a deal to build a fully integrated logistics park spanning over 1 million square…

Business A landmark is lit up in the colors of the national flag in Diriyah on the occasion of Saudi National Day. (SPA file photo)

Saudi Arabia Re-Elected President of UNWTO Executive Council

The Executive Council of the United Nations World Tourism Organization (UNWTO) approved the re-election of the Kingdom of Saudi Arabia as president of the…

Business Saudi Minister of Investment Khalid al-Falih at the roundtable meeting. (SPA) 

Saudi-Indonesian Roundtable Discusses Boosting Investment Partnership 

Saudi and Indonesian officials held a roundtable meeting in Riyadh in the presence of Minister of Investment Khalid al-Falih and Indonesian Trade Minister…

Business A general view of the Egyptian capital Cairo. (Reuters)

Egypt, China Sign Debt Swapping MoU

Egypt and China signed on Thursday a debt swapping memorandum of understanding (MoU) for development projects. Egyptian Prime Minister Mostafa Madbouly…

Asharq Al Awsat (Cairo)
Business A demonstrator carries a banner decorated with the Israeli flag prior to a march in support for Israel in West Los Angeles to the Museum of Tolerance, Sunday, Oct. 15, 2023. (AP)

Moody’s Places Israel’s A1 Ratings on Review for Possible Downgrade 

Global ratings agency Moody's on Thursday placed Israel's A1 ratings on review for a possible downgrade, citing the ongoing military conflict with the…

Business The ‘Future Investment Initiative’ forum in its sixth edition in Riyadh, Saudi Arabia (SPA)

5,000 Participants from 90 Countries to Join ‘FII’ Forum in Riyadh

Themed “The New Compass,” the seventh edition of the Future Investment Initiative (FII) forum is scheduled to take place in Riyadh on Oct. 24 -26. The…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: A man cuts open the bag after he bought 50 gram gold bars as an investment in Beijing, China, August 5, 2019. REUTERS/Jason Lee/File Photo

Gold Scales 3-month Peak as Middle East Conflict Lifts Demand

Gold prices hit a three-month high on Friday and were set for a second straight weekly gain, with demand bolstered by the Middle East conflict and expectations…

Asharq Al Awsat
Business A Saudi-Philippine meeting was held in Riyadh in the presence of Philippines President Ferdinand Marcos Jr. and the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, along with distinguished officials from both countries.

Saudi-Philippine Meeting Discusses Boosting Investment Opportunities, Relations

A Saudi-Philippine meeting was held Thursday in Riyadh in the presence of Philippines President Ferdinand Marcos Jr. and the Minister of Investment, Eng…

Asharq Al Awsat
Business Loans and debt instruments represent one of PIF’s sources of funding. SPA

PIF Announces Pricing of Inaugural $3.5 Billion International Sukuk Issue

The Public Investment Fund (PIF) has successfully priced its first dollar-denominated Shariah-compliant trust certificates (sukuk). The total amount of the…

Asharq Al Awsat (Riyadh)
Business Saudi Minister of Environment Abdulrahman al-Fadley at the 9th Conference of Environment Ministers in the Islamic World (SPA)

Saudi Arabia Hosts 9th Conference of Environment Ministers in the Islamic World

The 9th Conference of Environment Ministers in the Islamic World has been held in Jeddah under the patronage of the Custodian of the Two Holy Mosques King…

Asharq Al Awsat (Jeddah)
Business FILE PHOTO: Flue gas and steam rise out of chimneys and smokestacks of an oil refinery during sunset on a frosty day in the Siberian city of Omsk, Russia, February 8, 2023. REUTERS/Alexey Malgavko//File Photo

Oil Slips as Venezuela Sanctions Ease, Middle East in Focus

Oil prices fell about 2% on Thursday as the United States eased sanctions on Venezuela to allow more oil to flow globally, but fears that Israel's military…

Asharq Al Awsat
Business The Saudi Singapore Joint Committee (SPA)

Saudi Arabia and Singapore Stress Importance of Cooperation, Sign 7 MoUs

The Saudi-Singaporean roundtable meeting was held in Riyadh on Wednesday to review the latest updates of Vision 2030 and remarkable achievements, highlighting…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia's Knowledge Economic City Company (KEC) presenting a project at a Saudi conference (SPA)

Saudi Knowledge Economic City Signs $960 Mn Agreements with China's Gezhouba

Saudi Arabia's Knowledge Economic City Company (KEC) signed three agreements with China Gezhouba Group International Engineering Company (CGGC) to execute the…

Asharq Al Awsat (Riyadh)
Business Saudi Energy Minister Prince Abdulaziz bin Salman (Reuters)

Saudi Arabia to Expand Petrochemical Production, Energy Minister Says

Saudi Arabia is moving to expand the production of petrochemicals based on Chinese techniques for converting crude oil into petrochemicals, announced Energy…

Asharq Al Awsat (Beijing)
Business The Saudi Minister of Communications and Information Technology attends the opening of the Digital Technology Forum 2023. (Asharq Al-Awsat)

Saudi Arabia’s IT Market Value Reaches $21.6 Billion

Saudi Arabia’s IT and emerging technologies market has witnessed rapid growth, bringing its value to about SAR 81 billion ($21.6 billion) last year, with…

Asharq Al Awsat (Riyadh)
Business A historical site near the Saudi city of AlUla. (AFP)

Saudi Arabia Continues to Promote Tourism by Providing Electronic Visas to 6 New Countries

The Saudi Ministry of Tourism announced on Tuesday the availability of electronic visit visas for citizens of six countries, bringing the total number to 63…

Bandar al-Mosalam (Riyadh)
Business Saudi Aramco CEO Amin Nasser. (AP)

Saudi Aramco: Global Demand for Oil Will be at 103 Mn bpd  

Saudi oil giant Aramco's Chief Executive Amin Nasser said Tuesday he saw global demand for oil at 103 million barrels a day (bpd) in the second half of 2023. …

Business Chinese President Xi Jinping and distinguished guests arrive to attend the opening ceremony of the third Belt and Road Forum for International Cooperation at the Great Hall of the People in Beijing, capital of China, 18 October 2023. (EPA/Wang Ye/ Xinhua China / UK and Ireland)

China’s Xi Promises Open Markets and Billions in New Investments for ‘Belt and Road’ Projects 

Chinese President Xi Jinping promised foreign companies greater access to China’s huge market and more than $100 billion in new financing for other developing…

Business Since Moscow's invasion of Ukraine in February last year, European countries have scrambled to replace lost deliveries of natural gas from Russia. (AFP)

Qatar Signs 27-Year Gas Deal with Britain’s Shell 

Qatar has agreed to supply British firm Shell with natural gas for 27 years, the Gulf emirate's state-owned energy company announced on Wednesday. Since…

Business People visit the Gulf Information Technology Exhibition (GITEX) Global 2023 in Dubai, United Arab Emirates, 16 October 2023. (EPA)

Saudi Companies Participate Under 'Saudi Made' Identity at GITEX Global in Dubai 

The Saudi Export Development Authority (Saudi Exports) is participating under the identity of “Saudi Made” at the GITEX Global in Dubai, running from October…

Business Traders in one of the Saudi stock exchange halls (SPA)

Anticipated Surge in Saudi Corporate Profits

The anticipated rise in profits of companies listed on the Saudi financial market in the banking, communications, and healthcare sectors during Q3 of 2023 can…

Mohammed al-Mutairi (Riyadh)
Business Saudi Aramco logo on oil storage tanks (Reuters)

Saudi Crude Exports to 28-Month Low in August

Saudi Arabia's crude oil exports in August hit their lowest level in 28 months as they fell for a fifth straight month, data from the Joint Organizations Data…

Asharq Al Awsat (London)
Business The Saudi Technology and Security Comprehensive Control (Tahakom) is highlighting its innovations, products, and solutions that rely on the AI system. (SPA)

Advanced Saudi Tech Products Are Highlighted at GITEX 2023

The Saudi government and private entities are showcasing their technical products and services at the GITEX Global 2023 exhibition, which is currently holding…

Asharq Al Awsat (Dubai)
Business A shipping container passes through the Suez Canal in Suez, Egypt February 15, 2022. REUTERS/Mohamed Abd El Ghany

Egypt's Suez Canal Economic Zone Signs Energy Deals Worth Up to $14.75 Bln

Egypt's Suez Canal Economic Zone has signed a deal worth $6.75 billion with China Energy for green ammonia and green hydrogen projects to be established in the…

Asharq Al Awsat (Cairo)